Hitting Lottery for $40Million..What Happens?

[solaris=amazing]

First off, lets pick a number, lets say 40 million. First, i already know that all that will be taken out taxes etc will be around 55-65% if you decide on one lump sum payment (which i would :-) Now, after all the taxes etc, you got around 14Million, which is insane. What happens now.. Does the lottery set you up with lawyers/accountants etc to put the money in ?what? Lets say you only got a checking account, like me, what happens to your money? I'm guessing they have it all planned out and set you up with a secure account or what not.

LOL, i always said that if i see i got all the numbers right, i would wait and check (silently) about 5 711's and a couple conveniance stores, AND the internet (lottery site) to MAKE sure i wasn't dreaming.. I bet the day i'll win for like 100Mill, 150 other people would have gotten the numbers also :-(

[eversio11]

uh.. why don't you just worry about that when and if it happens?

[ZedEx]

Right off the bat:

-1992 Black Slicktop 300ZedX, stripped to bare una-body, beadblasted and re-furbished 100%
-VG30DETT base block
-Single turbo conversion
-NISMO/Border hybrid Injection 850cc
-Fully built bottom end and upper end
-Single plenum conversion
-Cryogenically treated engine components
-Basically every engine part replaced, or rebuilt
-Fairlady Front fascia, rear valence, side skirts (would have to be fabbed up... REAL Fairlady side skirts only came on 2+2s), Taillights, and projectors (about 5grand right there, haha)
-Custom made deep lip black three peice racing wheels
-Every possible component that can be, would have a Carbon Fiber (or Kevlar) part made in its stead. Painted to look stock. (i.e fenders, hood, rear hatch etc)
-Custom made 6speed gear box single peice driveshaft, and rear end
-Brembo 13inch brake system
-Fully built suspension

... That would be about 120grand... Well worth it in my honest opinion

O... And with the rest of the money... Umm... Err... I would keep a million, and use the rest to start an organization to assist young inventors in fulfilling their dreams... Wish someone would do it for me.

-Wes

[spy604]

as far as i know, you just get a check, thats it, you do as you will wih you 14 million dollar check, personally id take a pic of it, how often will you see a check for that much money

[solaris=amazing]

No, thers no way they just give you a 14million dollar check. I think they would have to help you put the money somewhere..?? I think.. I ask you this, cause i just WON.
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NOT..

[xyfalconsrock]

-firstly, sposer Af for life!
-3 cars on the list.

-Car one...
TD Cortina,
302w with cleveland style 4v heads..similar to 1972 trans Am block.
custom paint job
billet parts everywhere.
v8 super car race gear box
huge brembo's
3 inch straight out pipes.for max out power, eg1/4mile.

-Car two..
xy falcon,
351c, fully maxed out great parts all through it.
leather interior, everything for cruising.

-car three
2004 ford falcon GT
injected 351 from ford motorsport.
make a GT-HO out of it and drive it up to ford, ven get the bagdes made.Show car

well thats wat i'd do, probably.
I'd invest and keep the rest.

[stisnan]

Let me first say that as far as I know, your given the money in yearly "salarys".
Now as for the money....
Id buy AF the best server possible but only if I got to be a mod.
I would buy almost every single sony product available.
Now to the rides...
2003 Nissan 350Z painted flat black with a set of black Volk TE37s.
Also a 1949 Mercury with a chop top in Flat Black and on air bags.
Id probably buy a big house with the rest.

[TexasF355F1]

Financially speaking if anyone has more than 5 million dollars, in my opinion, it's not smart to have it all in one bank account. Seeing how the FDIC only insures up to $100,000 it's better to diversify the cash into several accounts at several different banks. I would also deposit money in swiss banks as well as invest quite a bit of it. All I have to say since you mention you only have a checking account, start taking money out of your pay check and open a savings account. Look towards the future and remember you will retire one day and if you don't invest or save any money now, even if you do get a nice retirement plan from your employer you're setting yourself up to be living the last years of your life with very little money.

When it comes to money always think long term.

[eversio11]

Originally Posted by stisnan

Let me first say that as far as I know, your given the money in yearly "salarys".

just stop talking, he said lump sum

[280zxguy]

evrybody you ever might have known comes out of the woodwork looking for cash, thinking because you won youll give them some so you just kick their ass off your mansions porch!!!!

[jon@af]

I would pay for my schooling and buy a nice new car along with a modest living quarters.

[YogsVR4]

10 million would make me another 10 million within a couple years. Before long I could get it in the 100 million range and retire. Have a ways to go before the 10 million mark though - but I'm on my way.

[crayzayjay]

Wow, i didnt know you guys in the US immediately lose a chunk of the winnings to taxes. It's not like that here in the UK, so once i get my millions, i do the following:

Buy myself a £5-6m house on my fave street in London, buy a handful of cars (not totalling over £500k), spend a good chunk on family, and invest the rest myself.

[280zxguy]

Originally Posted by crayzayjay

Wow, i didnt know you guys in the US immediately lose a chunk of the winnings to taxes. It's not like that here in the UK, so once i get my millions, i do the following:

Buy myself a £5-6m house on my fave street in London, buy a handful of cars (not totalling over £500k), spend a good chunk on family, and invest the rest myself.

i like the way you think.. i would like to think i would do the same thing..especially the part about spending some on family..

[supratuner]

id spend about $500,000 on a log house
next ill spend about $1,000,000 towards buying a mountain and the land the house will go on
Spend about $500,000 on an old chair lift, snow guns, water pumprs etc... for my own ski hill


3 cars

93 RX7, put a 20B in it and go single
93 SUpra TT, go all out with it
89 chevy S10 for fucking around in